Bullish misses first-quarter revenue estimates as transaction revenue slips

The crypto platform posted weaker-than-expected revenue as adjusted transaction revenue declined from a year earlier. What to know : Bullish (BLSH) Q1 adjusted revenue ($92.8 million) and EPS ($0.13) missed analyst expectations due to weaker digital asset trading activity. Shares fell 6.5% pre-market. Weaker crypto prices reduced trading activity across the industry, also causing Coinbase and Robinhood to miss Q1 earnings and revenue forecasts. Bullish is acquiring Equiniti in a $4.2B deal to expand into tokenized securities, adding a regulated transfer agent business.